Janney Montgomery Scott LLC Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Janney Montgomery Scott LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 167,189 shares of the company's stock after selling 5,205 shares during the quarter. Janney Montgomery Scott LLC owned about 0.09% of L3Harris Technologies worth $35,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. KB Financial Partners LLC increased its position in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company's stock valued at $29,000 after buying an additional 82 shares during the period. Blue Trust Inc. lifted its stake in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company's stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company's stock valued at $37,000 after purchasing an additional 79 shares during the period. New England Capital Financial Advisors LLC bought a new position in shares of L3Harris Technologies in the third quarter worth $35,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth $46,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on LHX. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. Royal Bank of Canada increased their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. Barclays lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an "overweight" rating in a report on Tuesday, April 30th. StockNews.com cut L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $231.80.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company's stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 0.4 %

Shares of NYSE LHX traded up $0.96 during midday trading on Wednesday, hitting $222.09. 773,409 shares of the company traded hands, compared to its average volume of 1,092,328. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $223.33. The stock has a 50-day moving average price of $210.97 and a 200 day moving average price of $205.00. The firm has a market cap of $42.13 billion, a P/E ratio of 36.05, a P/E/G ratio of 1.85 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts' expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.86 EPS. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies's dividend payout ratio (DPR) is 75.32%.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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